BITCOIN - Retest and possible rejection at $6700-6800?
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Bitcoin is finally making a bounce, albeit it being a weak one. I expect us to retest the exponential moving averages and reject from these on the daily timeframe.
This will create the right shoulder in a giant head and shoulders pattern with the neckline around 6k. Should this come to pass, we will soon see sub 6k BTC - perhaps within the next week or so.
This will create the right shoulder in a giant head and shoulders pattern with the neckline around 6k. Should this come to pass, we will soon see sub 6k BTC - perhaps within the next week or so.
Note
The bounce I talked about was a day premature as we got some more sideways action before the proper bounce took place. As most shorts were opened around the 6.5-6.8 upwards toward 7k area, we won't really squeeze them and force them to cover till we break these levels.
Be tolerant with others and strict with yourself.
- Marcus Aurelius
- Marcus Aurelius
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